| Laboratory Experiments with an Expectational Phillips Curve (2001) | |||||||||||||||
Abstract | |||||||||||||||
| We pay human subjects to be the policy maker and the public in an expectational Phillips curve model. Policy makers often find ways to achieve the time-inconsistent optimal inflation rate, at least for a while. But backsliding toward the sub-optimal Nash (time consistent) inflation rate also occurs. | |||||||||||||||
Details der Publikation | |||||||||||||||
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